Chase Freedom Unlimited^® Review [2024]: Incredible Rewards with No Annual Fee

Key takeaways

Who should get the Chase Freedom Unlimited card?

We think the Chase Freedom Unlimited can be a great fit for anyone looking for a simple cash back credit card. This card was introduced in 2016 and initially offered a flat 1.5% cashback rate on every purchase.

However, in September 2020, Chase revamped its rewards structure, moving the card into the tiered cash-back rewards category. Today, the Chase Freedom Unlimited a $0 annual fee and earns 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases.

Another reason we think that the Chase Freedom Unlimited is a great cash back card is that you can use it in tandem with a Chase Sapphire Preferred^® Card, Chase Sapphire Reserve^®, or Ink Business Preferred^® Credit Card.

This is because Chase allows you to transfer points between accounts, so you can transfer your rewards from the Chase Freedom Unlimited to one of the Sapphire cards or the Ink Business Preferred to gain access to better redemption options.

That said, you’ll need a good or excellent credit score to get approved, which typically means a FICO score of 670 or higher.

Card basics

Why we like Chase Freedom Unlimited: benefits and perks

• Rewarding welcome bonus: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year).

• 0% introductory APR offers: You’ll get 0% intro APR for 15 months on new purchases (then 20.49% - 29.24% Variable APR). You’ll also get 0% intro APR for 15 months on balance transfers (then 20.49% - 29.24% Variable). There is a balance transfer fee of $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. If you need to finance a large purchase or save on high-interest debt via a balance transfer, this card will give you plenty of time to do so. After that, your interest rate will increase to the regular APR.
• Bonus cashback rate in useful spending categories: The Chase Freedom Unlimited offers 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases.

• Flexible redemption options: You might be surprised to discover the Freedom Unlimited isn't just a cash card, but also a travel card. With its rewards structure, you technically earn Chase Ultimate Rewards points, which are a popular travel rewards currency. You can redeem points for cash back as a statement credit or direct deposit, gift cards, travel, or shopping on Amazon.com. You can also transfer points to another Ultimate Rewards-earning card.

Perspectives

Yahia Barakah, CEPF

SENIOR EDITOR AND CREDIT CARD REWARDS ENTHUSIAST

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Yahia is an avid credit card user with a passion for maximizing credit card benefits and perks.

WHY I LIKE THE CHASE FREEDOM UNLIMITED

During the holiday season, I used my Chase Freedom Unlimited for all the gifts, groceries, and other purchases I made, which earned me at least 1.5% cash back in the form of Ultimate Rewards points. Later on, I used the Chase Trifecta strategy by transferring the points I accumulated to my Chase Sapphire Preferred. Then, I redeemed them for a $200 flight via the Chase travel portal, earning a 25% bonus in the process. This meant that I only used 16,000 points for the flight.

• Lyft and DoorDash perks: You can earn 5% total cash back on Lyft rides. You'll also get a free 3-month membership to DoorDash's DashPass program, which offers reduced fees on eligible food delivery orders of $12 or more. After that initial period ends, you'll be automatically enrolled in DashPass for the next 9 months at a 50% discount (the normal membership is $9.99 a month). 
• Instacart benefits: Receive three free months of Instacart+ and $10 per quarter in statement credits toward Instacart purchases. You must join Instacart+ with your eligible card to receive these benefits.
  

• Chances to earn more cash back: The Shop through Chase portal and Chase Offers program both allow cardmembers to multiply the cash back they earn on certain purchases. Shop through Chase offers up to 15% extra cash back, and Chase Offers gives you statement credits when you activate an offer and redeem it with your card.

• $0 annual fee: There’s nothing inherently wrong with credit cards that have an annual fee. But with this one, you don’t have to worry about whether you’re getting enough value each year to make up for its yearly cost.
• Purchase protection: This credit card offers both purchase protection and extended warranty protection on eligible purchases.
  
• Trip cancellation/Interruption insurance: This coverage could reimburse you for up to $1,500 per person and $6,000 per trip if your trip is canceled, you’re too sick to go, there are severe weather conditions, and other situations. The trip must have been charged to your card.
• Freedom Unlimited authorized user: The primary cardholder can add an authorized user account as part of the Freedom Unlimited account services and features. This can help a trusted family member have their own credit card account to help build positive credit history on their credit report. You typically have to provide a date of birth for the authorized user, though there's technically no minimum age requirement.
• Credit Journey: Freedom Unlimited cardholders can access Credit Journey, a free tool for checking your credit score and receiving alerts about activity on your credit report. This could be useful whether you're a beginner or a veteran with credit scores and reports.

What we don't like about Chase Freedom Unlimited: drawbacks

Earning and redeeming cash back with the Chase Freedom Unlimited

The Chase Freedom Unlimited rewards program is relatively straightforward, making it easy to know how to maximize your rewards. And depending on how savvy you are with redemptions, you could get more than the standard value the card offers.

Potential earnings in years one and two

Here's a look at how your cash back can add up with the Chase Freedom Unlimited. To calculate these values, we used a valuation of 1 cent per Ultimate Rewards point.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $953

Year two earnings: $653

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which takes a look at points earned via spending, the welcome offer, and the annual fee. If you take advantage of the special earnings in year one, then you could earn even more with this card.

Best ways to earn

Given the base earnings rate plus the array of bonus categories, this card offers great rewards potential on almost every purchase you make, so there’s no extra legwork to maximize your earning power.

Maximizing your redemptions

When redeeming for cash back, gift cards, or travel, each point is worth one cent apiece, which is fairly standard. If you use rewards to shop on Amazon.com, however, they’re worth only 0.8 cents apiece.

Some Chase credit cards offer a bonus on travel redemptions in the Chase Travel portal. If you have either the Chase Sapphire Preferred or Reserve, or the Ink Business Preferred, you can transfer your points from the Chase Freedom Unlimited to one of these cards to get 25% or 50% more on travel redemptions. You could potentially get even more with point transfers to a Chase Ultimate Rewards transfer partner.

You can see how the Chase Freedom Unlimited pairs well with one of the Chase Sapphire cards by comparing the two directly.  When placed side-by-side, the Chase Freedom Unlimited and Chase Sapphire Preferred comparison highlights that each card has its own strengths. By utilizing both cards, you can maximize their benefits. 

Other cards to consider

The Chase Freedom Unlimited^® offers incredible cashback value, that’s why we consider it one of the best cash back cards available.

But if you're still on the fence, you may want to consider the rotating bonus categories from the Chase Freedom Flex℠ or the flat-rate cash rewards from the Capital One Quicksilver Cash Rewards Credit Card.

Chase Freedom Flex℠

The Chase Freedom Flex offers 5% cash back on rotating quarterly categories you activate (on up to $1,500 spent) and travel purchased through the Chase Ultimate Rewards portal; 3% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service); and 1% cash back on all other purchases.

These rotating categories can give you access to cash back in more areas than the Freedom Unlimited offers. The Chase Freedom Flex has a $0 annual fee, which makes it just as easy to keep in your wallet.

You can compare the Chase Freedom Unlimited versis Chase Freedom Flex and see if one – or maybe both – best fits your needs.

Learn more about this card in our Chase Freedom Flex℠ review.

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards has a $0 annual fee and offers 1.5% cash back on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply).

Unlike the Chase Freedom Unlimited, the Capital One Quicksilver Cash Rewards doesn’t charge foreign transaction fees.

You can compare the Chase Freedom Unlimited versus Capital One Quicksilver to determine which better fits your spending habits.

Learn more about this card in our Capital One Quicksilver Cash Rewards Credit Card review.

Unlimited Cash Back

Chase Freedom Unlimited^®

4.7

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Chase Freedom Unlimited^®

4.7

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Apply Now

Why We Like It

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.

Apply Now

See how these cards compare:

Chase Freedom Flex℠

• Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
• Up to 5% cash back on spending
• Perks from Lyft, DoorDash, and more

Capital One Quicksilver Cash Rewards Credit Card

• Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
• No annual fee
• 0% intro APR for 15 months on purchases and balance transfers, then 19.99% - 29.99% (variable) APR; Balance transfer fee applies
• 1.5% cash back on every purchase, every day
• Rates and fees

Chase Freedom Unlimited FAQ

Chase Freedom Unlimited review: bottom line

We think that the Chase Freedom Unlimited^® can be a great fit for someone who wants a simple yet capable cash back card. With its $0 annual fee, this card is easy to keep in your wallet.

However, it's important to note that unlike the Capital One Quicksilver Cash Rewards, the Chase Freedom Unlimited^® does charge a foreign transaction fee of 3% of each transaction in U.S. dollars, which might be a downside for frequent international travelers.

Explore more options in our list of the best cash back credit cards.

Unlimited Cash Back

Chase Freedom Unlimited^®

4.7

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

Chase Freedom Unlimited^®

Apply Now

Current Offer

Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.

Annual Fee

$0

Rewards Rate

5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases

Benefits and Drawbacks

Benefits

• Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year)
• Bonus rewards on eligible travel, dining, and drugstores
• No annual fee
• Intro APR on purchases and balance transfers

Drawbacks

• Has foreign transaction fee

Card Details

• INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
• Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
• No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
• Member FDIC